Graham Capital Management L.P. Sells 44,054 Shares of Utz Brands, Inc. (NYSE:UTZ)

Graham Capital Management L.P. reduced its stake in Utz Brands, Inc. (NYSE:UTZ - Free Report) by 68.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,101 shares of the company's stock after selling 44,054 shares during the period. Graham Capital Management L.P.'s holdings in Utz Brands were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Newton One Investments LLC bought a new position in Utz Brands in the 4th quarter valued at approximately $26,000. Venturi Wealth Management LLC acquired a new position in shares of Utz Brands during the fourth quarter worth $54,000. Tower Research Capital LLC TRC lifted its stake in shares of Utz Brands by 112.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,697 shares of the company's stock valued at $121,000 after acquiring an additional 4,078 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Utz Brands during the 4th quarter valued at $183,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Utz Brands during the 4th quarter valued at $196,000. 95.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on UTZ. UBS Group dropped their price objective on shares of Utz Brands from $15.00 to $13.50 and set a "neutral" rating for the company in a report on Friday, May 2nd. Royal Bank of Canada dropped their price target on shares of Utz Brands from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Monday, February 24th. DA Davidson upgraded shares of Utz Brands from a "neutral" rating to a "buy" rating and set a $16.00 price target on the stock in a report on Thursday, April 24th. Mizuho reduced their price objective on shares of Utz Brands from $21.00 to $19.00 and set an "outperform" rating on the stock in a research note on Monday, February 10th. Finally, TD Cowen lowered Utz Brands from a "buy" rating to a "hold" rating and lowered their target price for the stock from $17.00 to $15.00 in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.81.

Utz Brands Trading Down 3.6%

Shares of UTZ traded down $0.46 during trading hours on Wednesday, hitting $12.28. 896,250 shares of the stock were exchanged, compared to its average volume of 921,520. Utz Brands, Inc. has a fifty-two week low of $11.53 and a fifty-two week high of $18.89. The business has a 50-day moving average of $13.23 and a 200-day moving average of $14.48. The firm has a market capitalization of $1.74 billion, a P/E ratio of 68.24, a price-to-earnings-growth ratio of 0.86 and a beta of 1.20. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85.

Utz Brands (NYSE:UTZ - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. The firm had revenue of $352.08 million during the quarter, compared to the consensus estimate of $345.44 million. During the same period last year, the business posted $0.14 EPS. The business's revenue was up 1.6% compared to the same quarter last year. On average, research analysts expect that Utz Brands, Inc. will post 0.85 EPS for the current year.

Utz Brands Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Monday, April 7th were paid a $0.011 dividend. This represents a $0.04 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Monday, April 7th. Utz Brands's dividend payout ratio (DPR) is presently 75.00%.

Insider Buying and Selling at Utz Brands

In other news, insider Cc Collier Holdings, Llc sold 496,038 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $13.40, for a total transaction of $6,646,909.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Howard A. Friedman bought 3,525 shares of Utz Brands stock in a transaction dated Monday, February 24th. The stock was purchased at an average price of $14.16 per share, with a total value of $49,914.00. Following the completion of the purchase, the chief executive officer now owns 265,729 shares in the company, valued at $3,762,722.64. This trade represents a 1.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 17,920 shares of company stock valued at $224,156. 16.32% of the stock is currently owned by company insiders.

About Utz Brands

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.